In a significant move to bolster Nigeria’s economic prospects, the Association of Nigerian Licensed Customs Agents (ANLCA) has pledged its support to the Nigeria Customs Service (NCS) in achieving an ambitious revenue target of over N5 trillion for the year 2024. This commitment was articulated by the Vice President of ANLCA, Prince Segun Oduntan, during a recent interaction with maritime correspondents at the association’s national secretariat.

Oduntan expressed his confidence in the capability of the Comptroller-General of Customs, Wale Adeniyi, to meet this target. He highlighted the positive changes within the Customs Service, noting that there is a renewed sense of dedication and efficiency among the officers. This change, according to him, has brought about a happier and more productive working environment.

The Vice President emphasized the importance of compliance among the members of ANLCA. He pointed out that being compliant with customs regulations is not only beneficial in avoiding penalties but also essential for maintaining a peaceful and efficient working environment. He cited an example where paying the full duty upfront, as opposed to evading part of it and facing penalties later, is more sensible and economically sound.

Oduntan also addressed the need for the Federal Government and regulatory agencies to focus on incentivizing exports. He called for the introduction of measures like export grants to encourage export activities. He criticized the current port system environment, stating that it is not conducive to export activities. The difficulty faced by export cargoes in accessing ports, often leading to weeks-long delays, was a particular point of concern.

In his vision for 2024, Oduntan expressed hope for the Nigerian Naira to strengthen against the US dollar. He encouraged ANLCA members to venture into export trade, particularly in the agricultural sector, to generate foreign exchange. This move, he believes, would support government efforts to stabilize and strengthen the Naira.

Oduntan also stressed the importance of compliance with government regulations among the members. He believes that with compliance, there can be a constructive dialogue with government agencies, which could lead to more beneficial policies for the industry. However, he highlighted a major challenge facing the industry: export containers struggling to reach their destinations, resulting in significant foreign exchange losses for the economy.

The commitment of ANLCA to help the Customs Service realize its N5 trillion revenue target is a significant step in Nigeria’s journey towards economic stability and growth. This cooperation between a key industry association and a government agency can serve as a model for public-private partnerships in Nigeria. The emphasis on compliance, export incentives, and resolving port system inefficiencies aligns with broader economic goals, including currency stabilization and increasing foreign exchange earnings.

As Nigeria navigates through its economic challenges, the role of organizations like ANLCA becomes increasingly crucial. Their support in achieving revenue targets and their advocacy for more efficient and export-friendly policies can contribute significantly to the country’s economic development. The combined efforts of the Customs Service and ANLCA, along with government support, have the potential to bring about substantial improvements in Nigeria’s trade and economic sectors.

In conclusion, the ANLCA’s pledge to support the Nigeria Customs Service in achieving its revenue target for 2024 is a promising development in Nigeria’s economic landscape. The focus on compliance, export incentivization, and improving port system efficiencies not only aligns with the country’s economic objectives but also sets a precedent for effective collaboration between government agencies and industry associations. This partnership could be a key factor in driving Nigeria’s economic progress and stability in the coming years.